Legal Characterization Memorandum.

Summarizes the operational characteristics of SendGlobe for diligence, legal review, and partner evaluation purposes.

OVERVIEW

Executive Summary

This memorandum summarizes the operational characteristics of SendGlobe for diligence, legal review, and partner evaluation purposes.

SendGlobe is designed as a Commercial Certainty Infrastructure platform.

The platform supports Commercial Readiness, Commercial Agreements, Verification Outcomes, and Settlement Eligibility.

SendGlobe does not provide custody, settlement execution, payment rail operation, banking services, or discretionary release authority.

WHAT SENDGLOBE DOES

Platform Description

SendGlobe enables counterparties to:

✓establish Commercial Readiness;
✓define expectations;
✓establish conditions;
✓secure commitments;
✓record Verification Outcomes; and
✓determine Settlement Eligibility according to predefined workflow rules.

The platform provides a standardized framework for predictable commercial outcomes.

FRAMEWORK

Commercial Certainty Infrastructure

Commercial Certainty Infrastructure is a framework that operates between agreement formation and settlement execution.

The purpose of Commercial Certainty Infrastructure is to reduce Commercial Uncertainty by creating a standardized process for:

—qualification;
—commitment;
—verification; and
—outcome determination.

PRE-CONDITION

Commercial Readiness

Commercial Readiness is the verified state achieved before a Commercial Agreement proceeds.

Commercial Readiness may include:

—identity verification;
—sanctions screening;
—compliance review;
—eligibility review;
—funding verification.

Commercial Readiness supports responsible participation in commerce.

AUDIT RECORD

Verification Outcomes

Verification Outcomes record whether predefined conditions have been satisfied according to applicable workflow requirements.

Verification Outcomes provide transparency and auditability throughout the lifecycle of a Commercial Agreement.

WORKFLOW STATUS

Settlement Eligibility

Settlement Eligibility is a workflow status reached when predefined conditions established by counterparties have been satisfied according to applicable workflow requirements.

Settlement Eligibility is not:

×settlement execution;
×custody;
×asset transfer;
×movement of funds;
×dispute adjudication.

Settlement Eligibility communicates that predefined conditions have been satisfied according to the established framework.

THREE-PARTY MODEL

Responsibility Allocation

SendGlobe is responsible for:

✓Commercial Readiness workflows;
✓Commercial Agreement workflows;
✓Verification Outcome recording;
✓Settlement Eligibility determination;
✓audit record maintenance.

Counterparties remain responsible for:

—defining conditions;
—defining deliverables;
—defining acceptance requirements;
—performing contractual obligations.

Independent Settlement Infrastructure remains responsible for:

—custody;
—account management;
—payment rail operation;
—movement of funds;
—settlement execution.

NON-CUSTODIAL DECLARATION

Activities Not Performed By SendGlobe

SendGlobe does not:

×hold funds;
×receive funds;
×move funds;
×custody assets;
×operate payment rails;
×act as an escrow provider;
×act as a trustee;
×act as a financial institution;
×provide banking services;
×exercise discretionary authority over settlement decisions.

FOUNDATION

Operational Principle

The counterparties define the rules.

SendGlobe applies the rules.

Independent Settlement Infrastructure operates according to those rules.

The outcome follows the agreement.

CONCLUSION

Conclusion

Based on the described operational model, SendGlobe is characterized as a Commercial Certainty Infrastructure platform that facilitates qualification, commitment, verification, and workflow status determination.

Settlement execution, custody, and movement of value remain functions of Independent Settlement Infrastructure operating separately from SendGlobe.

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